City officials happy that buyer is found for 150 Grand Cafe

Escondido’s upscale 150 Grand Cafe, which closed because of the recession, has a buyer.

Rick Marcus, real estate broker for the owner, said the 4,300-square-foot restaurant/retail building on Grand Avenue near the California Center for the Arts, Escondido is in escrow.

He declined to reveal the identity of the buyer or what the space would be used for until escrow closes at the end of this month. The property, which can seat 150 people if used as a restaurant, is listed for $975,000.

The news delighted city leaders, who worried that the closing in July of downtown’s first upscale restaurant was a sign of further trouble for the city’s aging core. Downtown Escondido had more than 93,000 square feet of vacant space at the time.

“It’s a great site, a wonderful location for someone willing to take on the risk of opening a new business right now,” said Councilwoman Olga Diaz, who owns a coffee shop downtown.

“Whoever moves in certainly will get a pretty good chance at viability,” she said. “Whatever it is — pizza or something else — most people will try it to see what it’s like.”

Councilman Sam Abed said the pending sale is excellent news. “This is evidence that downtown will be coming back soon,” he said.

Thora Guthrie, CEO of the Downtown Business Association of Escondido, reacted similarly.

“Downtown is excited about any business that comes in, if it’s doing the right kind of business on Grand Avenue,” she said.

150 Grand Cafe, named after its address, opened 16 years ago under Cyril and Vicki Lucas, who wanted to cater to arts center patrons.

Over the years, the restaurant changed hands, but its reputation for fine cuisine continued, and in 2008 earned a nomination for a gold medallion through the California Restaurant Association.

When the recession hit, the cafe’s last owner, Mark Missler, offered less-expensive menus, such as a three-course dinner for $35, but to no avail.

Shortly before the cafe closed, Missler said he had lost 25 percent of his customers.